PAB

Panamanian Balboa

PAB is one of the official currencies of Panama, alongside the US dollar. Named after Spanish explorer Vasco Núñez de Balboa, it has been pegged to the USD at 1:1 since 1904.

Panama is unique in that it doesn't print its own paper currency - US banknotes circulate as legal tender while Panama issues only coins. The balboa is subdivided into 100 centésimos. This arrangement has contributed to Panama's low inflation rates and monetary stability.

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